Myntra forays into Social Commerce at scale; Launches ‘M-Live’ for real-time video-enabled

Paving the way for immersive and informative shopping with its Social Commerce proposition, Myntra believes that the charter is likely to engage ~50% of its monthly active users in the next 3-4 years

Myntra aims to churn out close to 1000 hours of live video content per month for deeper consumer engagement, contributing exponentially to the creator economy phenomenon 

To  shape the future of optimised engagement for brands, by blending elements of product discovery, personalization, ease of purchasing, community, and edutainment

India, November 30,2021: As a pioneer in influencer-driven content, Myntra today announced its foray into Social Commerce at scale, to cater to the rapidly evolving content consumption patterns and shopping preferences of consumers. As a part of this launch Myntra also unveiled M-Live,  bringing a first-of-its-kind, interactive, and real-time, live shopping experience to the fingertips of millions of shoppers in the country. With the launch of its Social Commerce charter, Myntra is looking to transform the way consumers shop by bridging the gap between inspiration and commerce while bringing both under one single platform. Under this charter, Myntra will target fashion and social media savvy young men and women who are looking to have access to the best-in-class fashion advisory and in-demand trends.

Myntra’s Social Commerce proposition: Today, social platforms are considered to drive ~70% of purchase decisions for fashion-forward consumers with fashion and beauty being the most popular categories in the Social Commerce realm as per industry reports. Pivoted on community, connection, and trust, Myntra believes that as the future of shopping, its Social Commerce charter is likely to play an important role in defining the way its customers shop.

Myntra’s Social Commerce Business has three distinct propositions that add immense composite value to consumers, creators, and brands alike:

1. M-Live - With M-Live, its pioneering proprietary live video streaming, and live commerce platform, Myntra is further paving the way for the future of shopping that resonates with today’s social media savvy, fashion-conscious generation.  M-Live aims to facilitate a real-time engagement between consumers and brands by allowing influencers and experts to host live video sessions of product and styling concepts curated by them, on the Myntra app, enabling viewers to shop instantly. M-Live is also the nearest to an expert-assisted offline shopping experience that is fully experienced online.  The core benefit is the users’ ability to get interactive descriptions of products independently curated by experts they can trust and identify with while getting instant advice on various aspects like styling, fitment, product quality, and material. With several concurrent users joining the live sessions, it also gives users the opportunity to shop as a community and benefit from the community’s knowledge, observations, questions, and comments, enabling a more confident shopping decision that is backed by social validation.

Speaking on the launch of its Social Commerce charter, including  M-Live, Achint Setia, VP and Business Head, Social Commerce, Myntra said, “With Myntra Fashion Superstar, Myntra Studio, and now M-Live, an immersive live video shopping experience, we are heralding a new age in fashion and beauty, making big strides in the Social Commerce landscape, with our path-breaking tech-pivoted solutions. At the heart of our Social Commerce initiative, is our desire to offer unparalleled content-led shopping formats to our customers, while harnessing the power of the creator ecosystem and technology. Built for today’s consumers who are gradually progressing from text-based or catalogue-based shopping to influencer-guided interactive experiences, the charter also offers brands an avenue to build salience with a highly engaged fashion-forward customer base, for new launches, collaborations, and showcase hero products along with a host of other benefits. ”

Social Commerce, which is a $1.5 billion to $2 billion GMV market in India today, will be worth $16 billion to $20 billion in just five years, with fashion and beauty commanding the lion’s share of this market at over 50-60% as per industry reports.